December 2012

2012 Petrochemical Review

South America: Venezuela

Fig. 1 illustrates the annual gross domestic product (GDP) and inflation from 2006 to 2011 for Venezuela. High crude oil prices have helped domestic GDP growth, suggesting a healthy economy. ..

Quijada, R., IntelliChem, Inc.

Fig. 1 illustrates the annual gross domestic product (GDP) and inflation from 2006 to 2011 for Venezuela. High crude oil prices have helped domestic GDP growth, suggesting a healthy economy.    Fig. 1. GPD and inflation rates for   Venezuela, 2006–2011. Despite the economic shocks that have rocked the global GDP since 2008, Latin America’s economic growth has remained above the world average. However, 2012 could be challenging in terms of growth. Inflation and stronger currencies in Latin America could slow economic expansion in the region. Most Latin American countries will experience the effects of higher energy prices and the likely recessio

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